Moore Capital Management LP Raises Stake in Golar LNG Limited $GLNG

Moore Capital Management LP boosted its holdings in shares of Golar LNG Limited (NASDAQ:GLNG) by 147.9% during the 4th quarter, HoldingsChannel reports. The firm owned 297,500 shares of the shipping company’s stock after purchasing an additional 177,500 shares during the period. Moore Capital Management LP’s holdings in Golar LNG were worth $11,070,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd grew its position in Golar LNG by 278.2% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 658 shares of the shipping company’s stock worth $27,000 after purchasing an additional 484 shares during the last quarter. Smartleaf Asset Management LLC grew its position in Golar LNG by 281.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 909 shares of the shipping company’s stock worth $37,000 after purchasing an additional 671 shares during the last quarter. Zions Bancorporation National Association UT purchased a new position in Golar LNG during the 4th quarter worth $44,000. EverSource Wealth Advisors LLC grew its position in Golar LNG by 94.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,356 shares of the shipping company’s stock worth $56,000 after purchasing an additional 657 shares during the last quarter. Finally, Brown Brothers Harriman & Co. purchased a new position in Golar LNG during the 4th quarter worth $65,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

Golar LNG Stock Down 0.3%

Shares of NASDAQ:GLNG opened at $49.45 on Thursday. The company has a market cap of $5.01 billion, a price-to-earnings ratio of 35.83 and a beta of 0.02. Golar LNG Limited has a fifty-two week low of $35.02 and a fifty-two week high of $57.79. The firm’s 50-day simple moving average is $53.06 and its 200-day simple moving average is $46.37. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 1.14.

Golar LNG (NASDAQ:GLNG) last issued its earnings results on Thursday, March 26th. The shipping company reported $0.82 earnings per share for the quarter. Golar LNG had a net margin of 30.10% and a return on equity of 6.86%. The company had revenue of $137.55 million for the quarter. As a group, equities research analysts predict that Golar LNG Limited will post 0.72 earnings per share for the current year.

Golar LNG Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Monday, June 1st were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Monday, June 1st. Golar LNG’s payout ratio is currently 72.46%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on GLNG shares. Pareto Securities downgraded shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. Weiss Ratings raised shares of Golar LNG from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, June 1st. BTIG Research reaffirmed a “buy” rating and issued a $67.00 target price on shares of Golar LNG in a report on Wednesday, May 20th. Wall Street Zen raised shares of Golar LNG from a “sell” rating to a “hold” rating in a report on Saturday, May 23rd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $65.00 target price on shares of Golar LNG in a report on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Golar LNG presently has an average rating of “Moderate Buy” and an average price target of $56.70.

Golar LNG Company Profile

Golar LNG Ltd. is a leading owner and operator of liquefied natural gas (LNG) carriers and floating infrastructure. The company specializes in the transportation of LNG on long-term and spot charters for major energy firms around the world. In addition to shipping, Golar LNG has broadened its services to include project development and the conversion of existing carriers into Floating Liquefied Natural Gas (FLNG) and Floating Storage and Regasification Unit (FSRU) vessels.

Since pioneering the first purpose-built FLNG conversion project, Golar LNG has been at the forefront of offshore gas monetization.